Reed Losing Hope for Fiscal Cliff Success

12/4/2012 10:34:35 PM

By Lucas Day

Just days after President Obama's proposal to hike taxes in order to avert the fiscal cliff was presented, Congressman Tom Reed says the chances of Washington being able to come to an agreement have lessened in his opinion.

And why does Reed think the President's proposal is a political calculation?

The two political parties are in stalemate over what spending cuts and revenue increases should be approved to cut a budget deficit that’s exceeded $1 trillion for each of the four years Obama’s been in office.